Hudson Exchange West To Begin Construction

Jersey City is set to build its first 80/20 program affordable housing building in 30 years.The building will be developed by Forest City Enterprises, developers of the New York Times building, the Beekman Tower, and the Barclays Center. The 80/20 affordable housing project was an initiative that features housing where 20 percent of the units are to be rented to low-income households.

Hudson6
 Credit: Hudson Exchange West Website

The project will consist of multiple buildings, including the primary 35-story tower which will house 336 units with 85 of those being affordable housing units. The building will also feature about 10,000 square feet of retail space and parking. The first two towers, once completed will bring 165 affordable units to the area. The overall complex will include 12 buildings in total. The full complex will also have a 10,000 square feet public plaza. The complete Hudson Exchange West complex will be 625,000 square feet.

Hudson3 Credit: Hudson Exchange West Website

The rent for the apartment is estimated to be about $2,325 for one-bedroom apartments and $954 for affordable housing residents. For two-bedrooms apartments, the rent is estimated to be $3,500 and $1,194 for affordable housing residents.

Hudson5 Credit: Hudson Reporter

Although it broke ground in November, a groundbreaking ceremony, attended by Mayor Steve Fulop, occurred this month. In regards to the development of new affordable housing, Mayor Fulop stated, “As Jersey City continues to grow, we are leading the state not just in new construction, but also in the creation of affordable housing. This is the first of several projects that will incorporate our vision of providing quality, affordable housing for residents throughout the city and will serve as a model for how to build diverse, mixed-income community.”

The construction begins this summer, there will be about 350 full-time construction jobs created.

Hudson2 Credit: Hudson Exchange West Website

 

Author’s Take It’s great to hear that the new Hudson Exchange West  complex will provide affordable housing for over 165 households for the first two towers, especially considering how incredibly high prices are around certain Jersey City neighborhoods. It’s also important to know that Forest City Enterprises has stated they will accommodate the Shop Rite currently located there. However, it is unfortunate that the other businesses around the lot, like BJ’s Wholesale Club and Bed, Bath, and Beyond have not yet been addressed by the developers and will probably be displaced.

External Links:

Forest City Website

Jersey Digs

Hudson Reporter

Featured Image Credit: Hudson Exchange West Website

13 Comments

  • Anna S says:

    Great Post! How does one apply? THere was no information, would you know? Thanks

    • Marcos Tollens says:

      Thanks! I did try to find that information however, it has not been provided as of yet. My guess is that they’re waiting to get a definite number of available affordable units before they open up the applications. I will try to contact them and will update the article when more information on the topic becomes available. Thanks for the read!

    • Marcos Tollens says:

      Hello Anna, I recently received a response about the application process email I sent the company. Hopefully this helps you. Their response: “Our first residential tower is scheduled to open towards the end of 2017. Approximately 6 months prior to our grand opening, we will have more specific information available about both our market-rate interest list and our affordable program application process. The affordable selection process will be handled in partnership with the City of Jersey City. We will ensure that the requirements and procedures for applying to the apartments are communicated in a transparent manner in order to ensure a fair and public process.”

  • Duane D. Brodnick says:

    Hello Mr. Tollens, Thank you for the information on Hudson West Exchange. I’ll be retiring in June, 2017, and hope to qualify for one of the two bedroom affordable units. I’ve been going to their website but there’s nothing new. I haven’t been able to find out what the square footage for the units, though I do know what the rents will be. I’m hoping karma is on my side, since I’m watching HWE going up from my kitchen window. I’m also hoping to see Unico Towers II, formerly know as Marin Residence and 515 Marin, rise from behind Unico Towers. That building I’m also interested in, and have not been able to find info on the size of their units and rents. I hope, around the time of HWE’s grand opening, they’ll allow people to either view the apartments or a rendering on their website. Do you happen to know if they’ll allow questions about each building? I do have a short list, for now. I was bothered by the possibility that BJ’s and Bed Bath and Beyond might be displaced. Along with Shoprite, those are a few of the reasons I’d like to live at HWE, plus the fact it’s directly across from Newport Mall and there’s a Light Rail station behind it. I await any further information it regards to those businesses. Finally, I noticed construction on Newark Avenue near 1st Street. I haven’t been able to find any info on it. Would you know anything about it? Thank you again. Happy Holidays and have a safe New Years.

    • Marcos Tollens says:

      Hello Duane, thanks for reaching out. I’ve contacted the developers in charge of Marin Residences and Hudson West Exchange about the questions. I’m awaiting their responses and as soon as I get an answer to your questions I’ll respond in the comments here. In regards to the construction on Newark Ave near 1st St, you could possibly be referring to a new 5-story building filed by Village Green Estates on 239-249 Newark St. Below you’ll see a link to the small bit of info they’ve released so far (Case 10 on the paper).

      http://www.cityofjerseycity.com/uploadedFiles/Public_Notices/Agenda/Planning_Board_Agenda/6%20-%20March24agn.pdf

      Have a Happy Holidays and a safe New Years as well!

      • Marcos Tollens says:

        I recently received a response about the square footage of the Hudson Exchange West email I sent the company. Their response: “The square footage of our apartments range from 600 to 1100.  We have 1br and 2br units.” Hopefully this info can help you out a bit.

  • Marcos Tollens says:

    Hello Duane, thanks for reaching out. I’ve contacted the developers in charge of Marin Residences and Hudson West Exchange about the questions. I’m awaiting their responses and as soon as I get an answer to your questions I’ll respond in the comments here. In regards to the construction on Newark Ave near 1st St, you could possibly be referring to a new 5-story building filed by Village Green Estates on 239-249 Newark St. Below you’ll see a link to the small bit of info they’ve released so far (Case 10 on the paper).

    http://www.cityofjerseycity.com/uploadedFiles/Public_Notices/Agenda/Planning_Board_Agenda/6%20-%20March24agn.pdf

    Have a Happy Holidays and a safe New Years as well!

    • Marcos Tollens says:

      I recently received a response about the square footage of the Hudson Exchange West email I sent the company. Their response: “The square footage of our apartments range from 600 to 1100.  We have 1br and 2br units.” Hopefully this info can help you out a bit.

  • Duane D. Brodnick says:

    Dear Mr. Tollens,

    Hope you had an enjoyable holiday and New Years Eve. I decided to wait until after the holidays before reading any comments. Thank you for the info about the square footage range of the one and two bedrooms at HEW. My current one bedroom is between 600–650 square. I’m hoping the two bedrooms a bit larger, especially the master bedroom being able to hold a queen size bed. At least I know I can afford the two bedroom. I’m still watching HEW being constructed and await seeing Unico Towers II (aka 515 Marin and Marin Residences) begin to emerge from behind Unico Towers. When do you think info about the rent and square footage for Unico will be released? Will they also open their website six months before the building is ready for occupancy? I’d like to put in my papers for it also, but I’m really hoping to get into HEW. I’ve also been hearing bits and pieces about the nearby shopping area. So far Shop Rite is safe but the fate of BJ’s and Bed Bath and Beyond are still up in the air. This is one of the reasons why I wish to live in HEW. If BBB closes, I can go into NYC to their 6th Avenue store. One rendering of the completed area I’ve been seeing so far doesn’t show any of the establishing buildings.That is a concern of mine. Where will people be able to go shopping? Pathmark closed a while ago, and Key Food on Jersey Avenue might not be large enough for the increase population. Finally, my questions are getting longer about both buildings. Will the managements of both allow potential tenants to submit questions, so they can be included on their websites? I have a feeling I might be sending in the most questions. Thank you again.

  • Sharon Shortte says:

    Any info on entering the lottery yet?

    • Marcos Tollens says:

      Hey Sharon, we will contact the developers to see if there is an update and will update you on the lottery as soon as we get a response. Thanks for reaching out.

    • Marcos Tollens says:

      Hey Sharon,

      it appears that the lottery is unfortunately, currently closed. Their response, “Our property here in Jersey City for the affordable housing units was a lottery and unfortunately has been closed since July 31, 2017.” If there is new information released about a future lottery, we will message you here.

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